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Paramount Skydance has revealed in an FCC filing that approximately 49.5% of the merged Paramount-Warner Bros. Discovery will be 49.5% owned by foreign investors.
In addition, about 38.5% of the new company’s total equity is held by a trio of Middle Eastern funds.
Specifically, Saudi Arabia’s Public Investment Fund will have a 15.1% equity stake; the United Arab Emirates’ sovereign wealth fund will have 12.8%; and the Qatar Investment Authority will have 10.6%.
The remaining 11% of the foreign ownership total represents existing investors in Paramount Skydance and/or RedBird Capital.
The filing indicates David Ellison, his father Larry Ellison, and RedBird Capital Partners will continue to hold the largest equity stake and will continue to have control over shares with 100% voting power.
Paramount requests “advance approval… for each of the entities seeking specific approval to increase their equity and/or voting interests in Paramount up to 20% at some future time.”
The news follows on from Warner Bros. Discovery shareholders overwhelmingly voting last week in favour of the $111 billion sale to Paramount. The pact still requires approval by European regulators.
Source: Variety
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